Modern Warehouse In The Heart Of Christchurch’s Premier Industrial Precinct Is Placed On The Market For Sale

A vacant mid-sized warehousing premises complete with adjoining commercial office space in one of Christchurch’s foremost industrial precincts has been placed on the market for sale.

The versatile clearspan warehousing and adjoining partitioned offices split over two floors are located on the corner of Vickerys Road and Pilkington Way in the Christchurch suburb of Wigram.

The building’s total floor area is split between some 398 square metres of warehousing space, with ground floor offices and staff amenities taking up some 190 square metres, and the second level of offices and amenities comprising 190 square metres of space. On one side of the warehouse floor is 25 square metres of dangerous goods storage space.

The rear of the building faces onto a large, sealed yard with access and allocated parking shared by neighbouring premises. Unit 1/89 Vickerys Road has 12 car parking spots within the rear yard area. The building has roller door access from both the front and rear.

Unit 1/89 Vickerys Road is part of a modern two-storey tilt-slab style development designed and built in 2006 to encompass four similar style units. Strengthening and earthquake repairs were undertaken at the building in 2016 – bringing it to a new build standards rating of 75 percent.

The freehold land and vacant building unit 1, 89 Vickerys Road in Wigram, are now being marketed for sale by deadline private treaty through Bayleys Canterbury, with offers closing on March 17 (unless sold prior). Salesperson Nick O’Styke said the property could be viewed either as an investment opportunity to put a new tenant in place, or for acquisition by an owner-occupier looking for a premises of this size.

“The layout of the warehousing floor within the building means there is ample scope for substantial racking and shelving to be installed, or for accommodating a fleet of trade and service vehicles,” O’Styke said.

“This aspect makes the space amply suitable for a medium to large ‘tradie’-based company with say a fleet of five to 10 vehicles - for example in the electrical, facilities, plumbing or engineering fields.

“Alternatively, the dual-access points and the efficiency they provide for goods delivery vehicles, mean the location could suit a small to medium-sized on-line retailing entity whose products are shipped directly to consumers without the need for a physical ‘shop front’ premises.

“The upper portion of the office space is carpeted throughout and features what was previously a large open plan function room – complete with kitchen amenities - with a spacious balcony overlooking the neighbourhood and accessed by two large bi-fold doors.

“Being situated on an axis location, there is the potential for substantial brand signage to be installed on the side and street-facing corner of the building.”

Situated some six kilometres west of central Christchurch, Wigram’s industry heavy zoning allows for activities which generate significant effects on the surrounding environment – such as high noise levels, odours or heavy traffic flows - to be conducted in the immediate area.

The Vickerys Road address for sale is surrounded by industrial tenancies such as infrastructure company Higgins Contractors, Three Way Welding & Machinery, Central Heating New Zealand, and Complete Reinforcing Christchurch.

“Development land within Wigram is at a premium, and medium to larger industrial warehousing units such as 1/89 Vickerys Road are in strong demand – particularly since March 2020,” O’Styke said.

“The industrial property market has been a superstar commercial market through COVID-19 compared to the other asset classes such as retail or central city commercial office locations, and there are few signs of this trend abating in the near future.”

O’Styke said that leasing data from properties of a similar size and building configuration within the Wigram precinct indicated the Vickerys Road warehousing and office complex could be let for between $90,000-$100,000 plus GST and operating expenses per annum depending on lease length and conditions.

Click here for more information on the listing.

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